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Lyft valuation hits $15.1 billion after fresh $600 million in funding – TechCrunch

Lyft has raised an additional $600 million in a Series I financing round led by Fidelity Management & Research Company, pushing its post-money valuation to $15.1 billion. The company’s value has more than doubled in the past 14 months.

Senator Investment Group LP joined Fidelity in the capital raise. Fidelity has poured more than $800 million into the ride-hailing company, making it one of Lyft’s largest investors.

Lyft has spent the past 18 months aggressively expanding into new U.S. cities, as well as into Canada and pursuing its autonomous vehicle ambitions. Lyft’s plans — along with some of rival Uber’s scandalous missteps — have helped the company increase its market share in the U.S. to 35 percent. In January 2017, Lyft had just 22 percent market share in the United States.

Of course, scaling up is a costly affair. And Lyft has spent the past year seeking investor money. The ride-hailing company has raised $2.9 billion in primary capital — that includes the $600 million announced Wednesday — since April 2017.

In total, Lyft has raised $5.1 billion since its inception. Other investors from previous rounds include AllianceBernstein, Baillie Gifford, KKR, Janus CapitalG, Rakuten, and Ontario Teachers’ Pension Plan.


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Sachin Iyer

I am a self‐learned digital executive, leader, strategist and trainer by profession and experience. I have rich experience as marketer, trainer, entrepreneurial evangelist and start up facilitator. I admire first generation of entrepreneurs and conducted more than 200 programs to establish startup ecosystem in Central India. I have worn many hats in my career, as a result, I have a unique ability to manage multi‐disciplinary projects and navigate complex challenges in the process. I have big ideas and I don't care who gets credit, I just like to facilitate. Drop me a line anytime, whether it's a collaboration, writing projects, skills training or just business - will love to hear from you - [email protected]

Latest posts by Sachin Iyer (see all)

  • India’s Cashify raises $12M for its second-hand smartphone business – TechCrunch - June 29, 2018
  • Big tech companies are looking at Hollywood as the next stage in their play for the cloud – TechCrunch - June 29, 2018
  • Tesla opens the Model 3 reservation floodgates – TechCrunch - June 29, 2018

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